Utilities Down After Wholesale Inflation Data- Utilities Roundup
Dow Jones
Yesterday
Shares of power producers fell as a reading of heated August wholesale inflation data drove Treasury yields to multiyear highs. The utilities sector has earned a reputation as a "bond proxy" because it often trades in line with Treasurys.
The SPDR Select Sector Utilities exchange-traded fund, which tracks the utilities industry group of the S&P 500, is now down about 1.5% for 2026, a far cry from the roughly 10% gain for the broad index.
Shell Energy North America said it acquired Hunlock Creek Generating, which owns 169 megawatts of natural gas-fired generation capacity in Pennsylvania.
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